This is a bit of short cut what moved rates overnight
Gold was a big mover (drop) at 10am London time, as you can see in the pic:
I put an arrow on it just in case, you know, it wasn't clear ;-)
Cited was a $2.2bn sales order, executed in less than a minute
- 1.8mln ounce sell order (18K+ futures sell order)
The gold move kicked off 'gaps' lower for AUD/USD, EUR/USD and higher for USD/CHF, USD/JPY.
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The next very sharp move came on the US Durable Goods data, which dropped the USD. See here for more: Forexlive Americas FX news wrap: Dollar recovers after fall on durables stalls.
The USD fell (Yen, euro, chf, aud ... etc. higher against the big dollar)
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USD/JPY jumped to 111.90 (and thereabouts) later in the US session, This seems to be related to a downgrade of two Japanese banks by UBS. I wouldn't put my hand on a bible and swear to it, but that's some chatter about the place.
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Oh, and BTW, US 10 yr notes (bonds) closed at their lowest yield for the year 9so far at least)
